In recent years, research efforts have been focused on the design and fabrication of highly efficient catalysts for liquid fuel cells, because the use of these cells is an important approach for alleviating environmental pollution and energy crises. However, the limitations of the catalytic performance of industrial Pt/C have strongly hindered the development of these fuel cells. The catalyst morphology has a strong impact on its performance; nanostructured catalysts are preferred as they offer large specific surface area and more exposed active centers. In view of this, many catalysts with unique structures have been synthesized in recent years, all of which show excellent catalytic performance characteristics. Despite these achievements, few efforts have been made to survey this field comprehensively. Herein, the recent advances in catalysts for liquid fuel cells are summarized, with a focus on noble metal catalysts with unique morphologies such as nanowires, nanosheets, and assembly structures. Their formation mechanisms are discussed critically. The relationship between the unique morphologies and excellent performance of these catalysts is also explored. This work may provide guidelines for the further development of liquid fuel cells.